KJ Advisory as one of the leading accounting firms in Singapore offers top notched accountant services that is second to none. Our true value lies in showcasing our challenging competitiveness in accounting support to all business sizes in Singapore. While your company continues to strive on your core goals, we strive on ours. We deliver.
We offer the full complete array of accounting services that includes maintenance of general ledger, accounts payable, accounts receivables and preparation of schedules for audit and tax purposes. Depending on our clients' preferences, final accounts can be prepared on a monthly, quarterly or annually basis to suit your company's needs.
Final accounts prepared by us are in strict compliance with Singapore Financial Reporting Standards, Accounting Standards Council (ASC), Financial Reporting Standards (FRSs) and Singapore Financial Reporting Standards (International) (SFRS(I)s).
Our professional team of accountants are well versed in various accounting software used by our diverse pool of clients such as Quick Book, Sage, MYOB, Million, etc. We, as your accountant will focus on your books and grow with you.
As per statutory requirements, Singapore companies are to appoint a company secretary within 6 months after its incorporation. Company Secretary carries an imperative role by making sure that the company is in compliance with the policies set by the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Companies Act. Sole Director is disqualified from filling this role. We as your company secretary will ensure that your company is up to date, all documents completed and available for timely submission. Apart from that, our professionals are also constantly updated of ever-changing policies, keeping track all time bars and avoid unnecessary expenses of penalties imposed by statutory bodies on your company.
We aim to make your business prosper. We make practical suggestions and organised problem solving approaches to every obstacle that the company faces.
Tax in Singapore is categorised greatly into two main groups, Individuals for personal income tax and Corporates for company income tax. Computing Tax and filing for tax returns may be disconcerting even to the most experienced taxpayer.
KJ Advisory understands the unsettling concerns of many clients and are therefore here to take over all these responsibilities. We as your tax agent shall fully manage your Company's annual Income Tax Return, provide professional tax advisory services and make sure that every single piece of information that concerns your company in relation to Inland Revenue Authority of Singapore (IRAS) shall be accounted for. We take good pointers to every newly announced tax policies by Singapore Government’s so that your company does not miss out. We worked hard, we save smart.
Payroll outsourcing services are especially useful for newly established businesses, or businesses that are looking for costs effective solutions of having a competitive edge by engaging professional team to ensure compliance with regulatory requirements.
We provide professional advisory on the extensive types of employment in Singapore and we are here to assist clients in application for employment passes for foreigners working in Singapore. Passes include Employment Pass (also known as EP), Special Pass (also known as SP), Work Permits (also known as WP) and so forth, each with their own respective criteria. At the same time, it is also imperative to adhere to the Workman Compensation Act in Singapore and the Ministry of Manpower for which we will also assist our clients with the appropriate insurance policies so as to fulfil the requirements of the statutory.
KJ Advisory provides dedicated payroll services in compliance to Singapore Employment Act. Our payroll services include salary, overtime, commission, bonus and Central Provident Fund calculations, arranging payments for employees’ salaries, CPF submissions, completion of Forms IR8A and IR21 for submission to Inland Revenue Authority of Singapore, issue mandatory itemised payslips to your employees.
Further services in relation to payroll includes assisting our clients in submitting claims to the various government departments for NS man reservist, maternity leave, employee ’s child care leave and so forth. We are also happy to assist our clients in facilitating investigations/queries from relevant government departments.
KJ Advisory’s custom built corporate tax plans and tax advisory services are designed to assist your company achieve maximised tax efficiency. You can be at ease from tax burden and instead, focus on your company operations so as to remain competitive within your respective industry.
With proper tax planning in place, your company will be in a favourable position to make adjustments to ever-revolving external situations that your company may face. Proper tax planning results in cost deducted and greater potential earnings. Increased returns to shareholders could be reinvested or expansion for the growth of your company.
KJ Advisory has provided our expertise to many companies , including local and international to satisfy mandatory compliance and maximise tax savings. We make sure that every single piece of information that concerns your company in relation to Inland Revenue Authority of Singapore (IRAS) shall be accounted for. We take good pointers to every freshly announced tax policies by Singapore Government’s so that your company does not miss out. We worked hard, we save smart. Talk to our tax experts now.
KJ Advisory provides professional services in the closing (or strike off) of local companies, working along side with Accounting and Corporate Regulatory Authority (ACRA), Inland Revenue Authority of Singapore (IRAS) and other relevant government agencies.
Upon receiving an approval of a strike off, a Striking Off Notice will be sent to the company at its registered office address, to its directors at their residential addresses and to the IRAS, within 14 days of the receipt of the strike off application.
A period of one month will be given in the Striking Off Notice to anyone that may wish to raise any objection to the application. Once one month period has expired, a notification of the intention to strike off this company off the register in 60 days’ time will be made in the Government Gazette.
Any interested person can still raise an objection to the application during this 60 days period. After the 60 days have expired, a final notification will be made stating that the company has been struck-off the register. The date that the company is struck-off will also be stated in the final notification. The entire Company striking off process therefore takes about four months.
Get in touch with us today for any queries regarding striking off your company.
Our fees for tax clearance to IRAS and striking off application to ACRA is only $800 nett.
ACCOUNTING SERVICES
KJ Advisory as one of the leading corporate accounting company offers a wide spectrum of bookkeeping and accounting services in Singapore. Our professional accountants will do your books and accounts in absolute fulfilment of requirements governed by Accounting and Corporate Regulatory Authority (ACRA) and Inland Revenue Authority of Singapore (IRAS). Irregardless of your company’s scale, we have customisable bookkeeping and accounting solutions that will fit your company perfectly. We will first begin with understanding your company’s goals and developing plans to achieve them accordingly.
KJ Advisory only offers the upmost invaluable knowledge inherited from this competitive corporate accounts industry. We only provide the most aggressive and most informative advisory to your company. Our transparency in pricing will leave you assured and guaranteed that no surprises or hidden charges break in along the way.
It is no longer necessary like the olden days to apportion big money hiring an experienced accounting clerk. With just a fraction, you can expect us as your top notched outsourced professional accountant to deliver same services. We offer attractive packages for accounting services in Singapore, facilitating accounting needs and accounting reports on a monthly, quarterly, bi-annually and/or yearly basis. An inexhaustible list of accounting reports we provide:
KJ Advisory upholds highly the reputation of trust. All of our clients have faith in our long professional running history as they are assured that all information provided to us are strictly private and confidential.
We as your accountant shall be responsible for your day-to-day account maintenance, preparation of financial statements as well provide our insights to your company's health, data support your future forecasts and excel in its direction. In addition, we will also extend our services in assisting your company to submit the necessary annual audited/unaudited financial statements to ACRA and IRAS respectively.
At KJ Advisory, we work close with you on the books, accounts, reports and every single related issues.
Companies in Singapore are exempted from having its accounts audited if it is an Exempt Private Company with annual revenue of $5 million or less. Notably, a company no longer needs to be an exempt private company to be exempted from audit. Such companies are required to prepare unaudited financial reports yearly.
All other companies that are not exempted are required to appoint an auditor within three months of incorporation and be prepared to submit audited financial reports to ACRA. The accounts must be audited annually.
KJ Advisory provides full account services, including the preparation of unaudited financial reports for exempt companies. We also work closely with our associated audit partners in providing auditing services of financial statements in compliance with ACRA’s and IRAS’s statutory requirements.
All Goods and Services Tax (GST) registered companies are to adhere to GST rules and regulations in order to avoid penalties for non-compliance. GST is a consumption tax levied on the import of goods (collected by Singapore Customs), and nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.
Should your taxable turnover exceeds SGD$1million, it is compulsory to register your business for GST. However, you may still choose to register your business for GST voluntarily if your business does not exceed SGD$1 million in taxable turnover.
Our professional team assist our clients in GST registrations and de-registrations. Here at KJ Advisory, we shall prepare and submit GST returns on your behalf to IRAS in compliance with Singapore GST Act. We shall also review the compliance data and GST returns for you, advise you on any special and complicated transactions that may require GST reporting, and liaise with the Tax Authority on your behalf.
We as your qualified accountant will guide you in reviewing of invoicing requirements and assist you in your queries pertaining to GST audits by tax authority.
A financial statement reflects the financial status for all of the company’s related entities, including the original company assets. When a parent company acquires stock in a company to create a subsidiary, the subsidiary is required to maintain its own separate accounting records. Being a subsidiary, it does not operate independently. For the same reason, the parent company are required to consolidate financial statements to present its own financial operations, as well as those of the subsidiary.
In order to present accurate financial reports of the company for investors and relevant counter parties, Multi-national corporations and major Multi-national corporations in Singapore must consolidate their financial statements. Our exquisite professional accounting team provides consolidation accounting services, ensuring that your corporation’s financial statements of the parent company and the subsidiary are proper and relevant.
All companies incorporated in Singapore (unless exempted) are all required to file their financial statements with ACRA.
Companies are required to file a full set of financial statements in XBRL format, according to a Minimum Requirement List within the new ACRA Taxonomy 2013 (i.e. Full XBRL). Whether the company is solvent or insolvent, its position will determine the needs to file Financial Statement with ACRA. Solvent exempt private companies will continue to be exempted from filing their Financial Statements while insolvent exempt private companies will have the following options to file their financial statements with ACRA:
Our clients leaves the XBRL filing procedure to us due to its time-consuming nature, which involves studying of the system, selection of disclosures, inputing the data and tallying of information. Be rest assured and leave this hard work to us, we are an expert in this field.
There are situations when company decides to slow the business down during its downtime and wishes to sustain the company at its minimal cost, giving company the option to recommence businesses whenever ready.
Inland Revenue Authority of Singapore (IRAS) and Accounting and Corporate Regulatory Authority (ACRA) each has its own definition for Dormancy.
IRAS’ definition as a Dormant Company
A dormant company is one that does not carry on business and had no income for the whole of the basis period even though may have expenses booked. For example, if a company did not carry on business and had no income for the whole of the basis period ending in year 2019, it will be regarded as a dormant company for Year of Assessment (YA) 2020. Dormant companies may have incurred expenses.
A dormant company must submit its Income Tax Return unless the company has been granted waiver of Income Tax Return submission.
ACRA’s definition as a Dormant company
In accordance to the Companies Act, a company is regarded as dormant when there is no accounting transaction during that financial year. The Companies Act also states the transactions which will are to be disregarded when determining dormancy:
Why should you pay more? KJ Advisory has tailor made a Dormant Company Package to let you have a peace of mind. This package will provide advisory for your dormancy eligibility and works on the Preparation of management account for Annual Return filing. This package is as low as $500/year. Let’s keep cost to its minimal and recommence business when it’s time!
Taxation
KJ Advisory’s custom built corporate tax plans and tax advisory services are designed to assist your company achieve maximised tax efficiency. You can be at ease from tax burden and instead, focus on your company operations so as to remain competitive within your respective industry.
Our designed tax planning and financial accounting professionals will help you have your mind at ease during filing season while maximising your tax incentives and benefits.
CORPORATE INCOME TAX
KJ Advisory has provided our expertise to many companies , including local and international to satisfy mandatory compliance and maximise tax savings. We make sure that every single piece of information that concerns your company in relation to Inland Revenue Authority of Singapore (IRAS) shall be accounted for. We take good pointers to every freshly announced tax policies by Singapore Government’s so that your company does not miss out.
Our tax services include:
We worked hard, we save smart. Talk to our tax experts now.
PERSONAL INCOME TAX
Income tax rates in Singapore is dependent on an individual's tax residency status i.e. resident and non-resident. Income tax in Singapore is assessed on preceding-year.
Resident
CERTIFICATE OF RESIDENCE (COR)
Income derived by a Singapore tax resident company from foreign persons or companies may be subject to tax in that foreign jurisdiction. Under the Avoidance of Double Taxation Agreements (DTAs) or Limited Treaties may provide tax breaks (e.g. tax exemptions and lower withholding tax rates) to tax residents of Singapore on income derived from their jurisdictions.
Certification of Residence (COR) certifies that a company is a tax resident of Singapore, i.e. the control and management of its business is exercised in Singapore. With this certificate, submission of same to the respective foreign authority act as official declaration. This allow company to claim tax benefits under the DTAs or Limited Treaties that Singapore concluded with foreign jurisdictions.
We can help you with COR Application at only $250.
WITHHOLDING TAX
Withholding tax is imposed by IRAS for certain payments made to non-resident company or individual in Singapore. The payer is required to withhold a defined percentage of that amount for payment to IRAS as withholding tax. Tax rates varies accordingly to the nature of such payment.
These specified payments includes income sourced in Singapore and are made to company is either a tax resident or a non-resident of Singapore. In Singapore, the tax residency of a company is determined by the place in which the business is controlled and managed.
We will evaluate your payment on its nature for withholding tax purposes. Why pay more? Our assistance for withholding tax form submission is only $250/submission.
IRAS E-STAMPING
Stamp duty is a tax on documents relating to immovable properties, stocks or shares.
For transfer of shares in private companies, the following has to be determined:
TAX CLEARANCE (IR21)
It is the responsibility of the employer of foreign employees whom plans to leave Singapore for more than three months to file Form IR21. Form IR21 is a tax clearance to IRAS where employers to notify IRAS at least one month prior to foreign employees’ departure, withhold all monies due to such employee for tax clearance purposes. This is applicable to all work pass holders, not limiting to Personalised Employment Pass (PEP) holders.
If tax clearance is required for your employee, you must file the Form IR21 at least one month before:
Our services fees for filing of Form IR21 for your employee tax clearance purposes is only $50 nett.
CORPORATE SECRETARIAL SERVICES
Singapore companies are to appoint a company secretary within 6 months after its incorporation. Company Secretary carries an imperative role by making sure that the company is in compliance with the policies set by the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Companies.
We, as your Company Secretary, are constantly updated of ever-changing policies, keeping track all time bars and avoid unnecessary expenses of penalties imposed by statutory bodies on your company.
CORPORATE SECRETARIAL
We have simplified the management of activites into two sections, routine and non-routine. Our corporate secretary package is charged on a yearly basis which consist ALL routine work. Our Company Secretary Services Package provides:
We can perform all non-routine as and when required by your good company. Non-routine includes Shares Transfer, Changes to Members/Directors and so forth. This way, fees can be brought down to the minimum. Speak to us and let our professional advisory work things out for you today.
INCORPORATION OF COMPANY
Our Package Fees $499 for Singapore Company Incorporation includes:
Our Singapore Company Incorporation Package hand in hand with our Company Secretarial Package.
NOMINEE DIRECTOR
All companies in Singapore must have at least one director who is locally resident in Singapore. Being the local director, he must be either a Singapore Citizen, Singapore Permanent Resident, an EntrePass holder or an Employment Pass holder issued with such work pass in the company concerned and having a local residential address. A sole director cannot act as company secretary.
We provide professional nominee director services which can help you fill this requirement. Our competent nominee directors offer good working qualities to resume the same responsibilities and obligations as a regular director.
Our fees for nominee director services are from $2,000 nett.
You may wish to close the company for various reasons. One of the options available is to strike off the name of the company from the register.
ACRA may approve the application if it has reasonable cause to believe that the company is not carrying on business and the company is able to satisfy the following criteria for striking off.
Our fees for Tax Clearance to IRAS and Preparation of Striking-Off Documentation for Lodgement to ACRA is only $800 nett.
ACRA announced on 30 September 2013 that the revised XBRL filing requirements will be implemented from 2 December 2013. Replacing the online FS Manager will be a new offline tool, BizFinx, for preparing XBRL financial statements and the BizFinx Portal, for submitting the Annual Returns together with these financial statements.
All Singapore incorporated companies are required to file financial statements with ACRA, except for those which are exempted. Some companies will file a full set of financial statements in XBRL format, while some others will file only salient financial data in XBRL format and a full set of financial statements in PDF. The filing requirements depend on the type of company you own.
Our fees for XBRL filing is only $500.
As one of the guidelines outlined in the Companies Act, a registered address must be provided when registering your business with ACRA. A registered office address refers to the place where all communications and notices to the company may be addressed, and the place where the company’s register and records are kept. The registered address must be operational and accessible to the public during normal office hours.
Our prestigious registered address package includes:
We provide professional advisory on the extensive types of employment in Singapore and we are here to assist clients in application for employment passes for foreigners working in Singapore.
Passes include Employment Pass (also known as EP), Special Pass (also known as SP), Work Permits (also known as WP) and so forth, each with their own respective criteria. At the same time, it is also imperative to adhere to the Workman Compensation Act in Singapore and the Ministry of Manpower for which we will also assist our clients with the appropriate insurance policies so as to fulfil the requirements of the statutory.
Speak to us today to assist you on work passes application in Singapore!
Payroll outsourcing services are especially useful for newly established businesses, or businesses that are looking for costs effective solutions of having a competitive edge by engaging professional team to ensure compliance with regulatory requirements.
KJ Advisory provides dedicated payroll services in compliance to Singapore Employment Act. Our payroll services include salary, overtime, commission, bonus and Central Provident Fund calculations, arranging payments for employees’ salaries, CPF submissions, completion of Forms IR8A and IR21 for submission to Inland Revenue Authority of Singapore, issue mandatory itemised payslips to your employees.
Further services in relation to payroll includes assisting our clients in submitting claims to the various government departments for NS man reservist, maternity leave, employee ’s child care leave and so forth. We are also happy to assist our clients in facilitating investigations/queries from relevant government departments.
New budding companies may like to have an extra pair of hands to assist on their administrative work so as to allow themselves to fully focus on the growth of the company. We customise our administrative services base on your company needs.
Professional handling of our Administrative Personnel:
Speak to us, let us design an Administrative support package just for you.
WHAT OUR CLIENTS SAY
"Great people to work with, sincere and dedicated professionals who take pride in their work. They have the can-do attitude and always act in the best interest of the customer. Won't go wrong if you choose them to handle your accounting matters."
"Very professional and knowledgeable accountant. Knows everything in and out. Highly recommend...!!!"
"Jasmine is great, quick response, polite and most importantly solved my problems for me. She is able to answer all my queries. I will definitely look for her again in future. I will recommend her service to anyone who needs it. Thank you Jasmine."
"Jasmine is fast in terms of quick replies and providing the services. Good accountant to deal with and is really nice and helpful. I would definitely recommend others and will deal again in the future!"
DORMANT COMPANY PACKAGE
FULL SET PACKAGE (ACTIVE COMPANY)
FULL SET PACKAGE (SUITABLE FOR F&B INDUSTRY)
INCORPORATION PACKAGE
Our professional team specialized in Incorporation, Accounting, Tax, Secretarial and other Business services in Singapore. We are ready to answer your questions about incorporating or managing your business in Singapore. Please feel free to contact us if you have any queries. We aim to provide the best service in town. Talk to us today to work out a system that meets your business needs!
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